The Federal Reserve has offered more than $3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, municipalities and other borrowers with less than perfect credit.
Asian shares slipped on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks’ best efforts.
(Bloomberg) — Strategists at JPMorgan Chase & Co. have concluded that most risk assets — a universe that typically includes stocks and credit — have seen their low points for the recession that’s gripped economies around the world.Conditions that JPMorgan had set for market stabilization and revival have largely been met, with recession-like pricing, a reversal in investor positioning and extraordinary fiscal stimulus, strategists led by John Normand wrote in a note Friday. Coronavirus infection rates remain a “wild card,” as they remain high even if they’re “slowing” in the U.S. and Europe.“Risky markets should remain volatile as long as …read more […]
Major U.S. airlines asked the U.S. Treasury to move quickly to release up to $58 billion in government grants and loans and recommended a formula to divide up the money. The letter was signed by the chief executives of American Airlines, Delta Air Lines, United Airlines, Alaska Air Group, JetBlue Airways Corp, Southwest Airlines Co, Hawaiian Airlines and Atlas Air Worldwide. …read more […]
Major U.S. airlines asked the U.S. Treasury to move quickly to release up to $58 billion in government grants and loans and recommended a formula to divide up the money.
President Donald Trump, who excoriated General Motors Co on Friday and invoked emergency powers to compel the production of badly needed ventilators to tackle the coronavirus pandemic, has abruptly shifted gears to praise the automaker.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]
Toyota Motor Corp said on Monday that it would extend a suspension at all of its factories in Europe with the exception of Russia until further notice, with a restart expected no earlier than April 20.
Asian shares slid on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks’ best efforts. “We continue to mark down 1H20 global GDP forecasts as our assessment of both the global pandemic’s reach and the damage related to necessary containment policies has increased,” said JPMorgan economist Bruce Kasman. E-Mini futures for the S&P 500 skidded 1.2% right from the bell, and Japan’s Nikkei 3.7%. …read more […]
(Bloomberg) — SoftBank Group Corp. fell as much as 10% after a satellite operator it invested in filed for bankruptcy, ceding some gains from an unprecedented plan to sell assets and buy back shares.OneWeb made the filing late Friday U.S. time after raising about $3.3 billion in debt and equity financing from shareholders including SoftBank, Airbus SE and Qualcomm Inc. since its inception. At least $1 billion of that came from SoftBank, which said it first invested in December 2016 and declined to give a total amount.It is the latest blow to SoftBank founder Masayoshi Son, who last week unveiled …read more […]
Asian shares slid on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies.
(Bloomberg) — Insurers the world over have been walloped by evaporating investment returns, but those in South Korea have been hit particularly hard. Just consider this: The nation’s second-largest life insurer became a penny stock this month.Hanwha Life Insurance Co. has fallen 66% over the past year, and its shares touched the equivalent of about 71 cents on March 23. Its price-to-book value is just 0.1 times, a fraction the 0.8 average for European insurers or 0.9 among U.S. counterparts, according to data compiled by Bloomberg.The latest slump in markets, which has seen the South Korean won tumble — casting …read more […]
Stocks were poised to extend losses Monday as the coronavirus pandemic deepened over the weekend, with the U.S. death toll escalating. …read more […]
President Trump on Sunday said he was extending the administration’s social-distancing guidelines for another 30 days through the end of April, after saying for days that he was hoping to open up the country in the coming weeks. …read more […]
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